April 27 (Reuters) - French car parts supplier Forvia will sell its Interiors business to Apollo Funds for 1.82 billion euros ($2.13 billion), it said on Monday. The group said it expected to close
Forvia to sell its interiors business to Apollo Funds for $2.1 billion
Forvia's Strategic Divestiture and Leadership Changes
Details of the Apollo Funds Deal
April 27 (Reuters) - Forvia will sell its car interiors business to Apollo Funds for 1.82 billion euros ($2.13 billion), the French auto parts supplier said on Monday.
Financial Impact and Timeline
The group expects to close the divestiture of the division, which accounted for around 18% of its revenue in 2025, by the end of the year.
Debt Reduction and Company Statement
"It is anticipated to result in Forvia’s net debt reduction of at least 1 billion euros," the company said.
Leadership Transition at Forvia
Forvia also said the chair of its board of directors, Michel de Rosen, had resigned and would be replaced by Pierre André de Chalendar after the company's annual general meeting on June 4.
Additional Information
($1 = 0.8530 euros)
(Reporting by Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak)
